This bill proposes a property tax rebate program specifically for disabled veterans in New Jersey who have been honorably discharged from the Armed Forces and possess a service-connected disability recognized by the United States Department of Veterans Affairs. The rebate will be calculated as a percentage of the property taxes paid on the claimant's homestead, corresponding to their percentage of service-connected disability. For veterans living in rental properties or mobile homes, 18% of the rent or site fee paid during the tax year will be considered as property taxes paid. The maximum rebate is capped at $5,000, and eligibility is restricted to individuals with a gross income not exceeding $200,000.

The bill outlines the application process, requiring annual submissions of relevant documentation, such as property tax bills or proof of rent paid. The Director of the Division of Taxation will determine eligibility and rebate amounts, with provisions for appeal to the New Jersey Tax Court in case of disputes. Additionally, the bill includes measures to withhold rebate payments for property owners with tax delinquencies and mandates tax collectors to report delinquent taxpayers to the director. The funding for the rebate program will depend on annual appropriations by the Legislature, aiming to provide financial relief to veterans with service-connected disabilities and acknowledge their sacrifices.